As I posted in my last blog, many states as well as the federal government are making temporary changes to tax filing deadlines, unemployment insurance requirements and other matters during this pandemic. The following is a recap of the latest updates that have crossed my desk this week:
Note: I will be offering a webinar on the payroll related items occurring during this pandemic. See info at bottom of blog for more details.
Federal: the U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees. This relief to employees and small and midsize businesses is provided under the Families First Coronavirus Response Act (Act), signed by President Trump on March 18, 2020. For full details see IRS website’s Coronavirus webpage.
The following states are providing filing or deposit penalty relief or extending deadlines due to the Corona Virus:
Unemployment Insurance Update: The following states are waiving waiting times or making other temporary changes:
The following is provided by these states:
San Francisco, California: Workers and Families First Program will provide paid sick leave to impacted workers.
New York: Guaranteed sick leave for New Yorkers under mandatory or precautionary quarantine